The German energy company Uniper announced that it had initiated arbitration proceedings against Gazprom Export LLC in the international arbitration court in Stockholm.

The company demands that Gazprom reimburse the losses that Uniper suffered due to the lack of Russian gas since June. The company had to buy gas from other producers at inflated prices.

Uniper estimated losses at 11.6 billion euros and assumed that they would grow until the end of 2024. As previously said in the company, according to the results of the three quarters of 2022, its net loss amounted to 40 billion euros: these are both current and future losses.

Gazprom Export stated that it “does not recognize the breach of contracts and the legitimacy of Uniper’s claims for damages.” “At the moment, we are studying the received statement of claim and will protect our interests within the legal framework,” Gazprom Export said.